Texas Utilities Code

§ 39.601 — PURPOSE

UT § 39.601Title 2. PUBLIC UTILITY REGULATORY ACT · Part B. ELECTRIC UTILITIES · Ch. 39. RESTRUCTURING OF ELECTRIC UTILITY INDUSTRY · Art. M. WINTER STORM URI DEFAULT BALANCE FINANCING

Statute text

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(a)The purpose of this subchapter is to address the Winter Storm Uri default balance, as defined by Section 39.602, in a manner that benefits the public interest by:

(1)enabling the independent organization to finance the payment of the default balance with debt obligations; and

(2)authorizing the commission to contract with the comptroller under Section 404.0241, Government Code, to finance the payment of the default balance with debt obligations.

(b)Financing the default balance in the manner provided by this subchapter will:

(1)allow wholesale market participants that are owed money to be paid in a more timely manner;

(2)replenish financial revenue auction receipts temporarily used by the independent organization to reduce the Winter Storm Uri-related amounts short-paid to the wholesale market participants; and

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Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 908 (H.B. 4492), Sec. 5, eff. June 16, 2021.